Grayscale Bitcoin SEC case: It’s been a long battle for Grayscale in its efforts to convert its Bitcoin fund to a spot based ETF. In June 2022, the US Securities and Exchanges Commission (SEC) denied Grayscale’s application to convert into a spot Bitcoin ETF. Following this, the company waged a legal battle against the regulatory agency. In the context of the SEC’s ongoing actions against crypto based businesses, the case could prove to be vital in driving market sentiment in favor of cryptocurrencies.
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The Grayscale management is expecting a decision in the spot Bitcoin ETF decision by as soon as Fall of 2023. It appears the company now placed all its bets on the lawsuit against the SEC. With the Grayscale Bitcoin trust (GBTC) being the largest such Bitcoin fund in the world, even a minor outcome in favor of Grayscale could come out to be a huge boost for the crypto community. The SEC Grayscale case will soon hit the ground running as arguments are set to be heard in the court starting in March 2023.
What To Expect From Grayscale SEC Case
Speaking to Yahoo News on Monday, Grayscale CEO Michael Sonnenshein spoke about the company’s action plan in the case.
The post Just In: Grayscale Spot Bitcoin ETF Case Decision To Come Sooner Than Expected? appeared first on CoinGape.
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